Cloud computing is playing a pivotal role in powering India’s digital transformation. Nevertheless, with cloud adoption soaring across sectors, safeguarding sensitive data and defending against evolving cyber threats have become paramount for organisations. In 2023, reports suggest that India became the top target for cybercriminals, facing surges in ransomware and state-sponsored attacks. As India continues its digital transformation journey, addressing security challenges in the cloud will be crucial to unleashing the full potential of emerging technologies like generative AI, which heavily rely on cloud infrastructure. Srinivas Shekar, CEO of Pantherun in a conversations with Tech Achieve Media, emphasized the importance of implementing robust security measures to safeguard data and systems in the cloud-driven future. He shared insights into proactive strategies that could help organizations save costs, ensure compliance, and gain a competitive advantage in the cloud computing landscape.
TAM: With India’s rapid digitalization and increased adoption of cloud infrastructure, what do you see as the most urgent security challenges that businesses and government sectors face today?
Srinivas Shekar: India is rapidly embracing digitalization, and with the widespread adoption of cloud infrastructure, both businesses and government agencies are confronting significant security challenges. Protecting sensitive data, defending against advanced cyber threats, and complying with stringent regulations are now top priorities.
As organizations move operations to the cloud, securing data from breaches and unauthorized access becomes critical. Meanwhile, the expanding digital landscape increases risks like ransomware and phishing attacks, demanding robust cybersecurity measures such as continuous monitoring and swift incident response. Its important to note that malicious agencies are sitting on networks undetected for months together, and the rapid digitisation without adequately protecting data, just plays into their hands. Adhering to evolving data protection laws, including India’s regulations, adds further complexity and at times greater points of failure, emphasizing the need for strict data sovereignty and privacy practices.
TAM: End-user spending on security and risk management in India is expected to increase. What factors do you think are driving this increase, and how should organizations prioritize their security investments?
Srinivas Shekar: Indeed, the pervasive digitalization of various sectors has intensified the need for robust security measures. Infact, according to a recent survey from Gartner, Inc., end-user spending on security and risk management (SRM) in India is expected to reach $2.9 billion in 2024, up 12.4% from 2023 and due to the modernization of IT through cloud technologies, industry demand for digital platforms, new regulatory environments and ongoing remote/hybrid work. Indian enterprises will continue to grow their security investment through 2024.
This growth in spending is further fueled by the rising frequency and complexity of cyberattacks, such as ransomware and phishing, as well as the fact that malicious players are able to stay undetected on networks for months at a time, which necessitate an urgent need for encrypting of data and further enhancing security measures. Stricter laws like the IT Act in India and GDPR internationally, demand that strong security measures be put in place in order to guarantee compliance. As digital operations and cloud usage grow, there is a need for major investment in data protection due to the ongoing digital transformation across industries. Additionally, heightened awareness and education about cybersecurity threats, driven by well-publicized breaches, are prompting organizations to prioritize their security investments with an emphasis on encryption to protect data. The trend toward remote work emphasizes the requirement for secure remote access, strong endpoint security and the ability to ensure data is invisible to those that are not authorised to view it.
Organizations should concentrate on a few critical areas to strengthen their security posture and defend against changing threats. It is crucial to carry out thorough risk assessments in order to identify and rank vulnerabilities. Real-time threat identification and mitigation are made possible by implementing sophisticated threat detection with AI-powered solutions. Moreover, there needs to be an initiative to extensively encrypt data and deter unauthorized access. Employees who receive regular security awareness training are less likely to make mistakes. Lastly, keeping up with changing laws and regulations is ensured by making investments in compliance management and data protection systems based on standards like AES to maintain regulatory compliance. Maintaining regulatory compliance by investing in compliance management and data protection tools with secure AI based key management based on standards like NIST’s FIPS ensures adherence to evolving laws and standards.
TAM: Ransomware threats have been escalating globally. What strategies can organizations adopt to protect themselves against such attacks, and how can advanced encryption play a role in this defense?
Srinivas Shekar: Ransomware threats are a major concern globally, and at Pantherun we provide customers with a multi-layered defense approach. Key steps include regular data backups with AES based encryption kept securely offline that are essential for recovering data without having to pay ransoms, and powerful antivirus and EDR software for improved endpoint security can prevent ransomware before it has a chance to infect computers. A comprehensive encryption approach for all data also largely prevents data theft. It’s essential to educate employees about phishing and safe internet practices to avoid accidental infection. Network segmentation aids in containing breaches, while regular patch management ensures vulnerabilities are closed. Malicious content is blocked by email and browser filters thus lowering risks, and multi-factor authentication (MFA) adds an additional layer of security.
Advanced encryption is essential because it reduces the impact of successful attacks by making data unreadable to unauthorized users, thereby preventing data breaches. Strong encryption algorithms and effective key management further bolster security, significantly lowering the risk of ransomware compromising organizational data. At Pantherun, we develop and provide strong encryption and effective key management as the foundation of our solutions, offering robust protection against ransomware. By focusing on these areas, we assist our clients in efficiently securing their digital environments.
TAM: As cybersecurity threats evolve, what future trends do you foresee in the cybersecurity landscape, and how is Pantherun preparing to stay ahead of these emerging threats?
Srinivas Shekar: Looking ahead, the cybersecurity landscape is expected to undergo several transformative trends as threats evolve. A noteworthy development in cybersecurity defenses is the increased integration of artificial intelligence (AI) and machine learning (ML) to provide more proactive threat detection and response capabilities while also aiding data protection. Besides, the emergence of quantum computing presents fresh potential and difficulties for encryption, which increases the demand for cryptographic solutions that are immune to quantum errors. Strong cybersecurity solutions designed for IoT environments will be necessary as the use of IoT expands and the need to secure networks and linked devices develops. Additionally, cloud computing and remote work will continue to influence cybersecurity methods, necessitating robust and scalable security systems.
Pantherun Technologies is actively preparing to stay ahead of these emerging threats through continuous innovation and adaptation including expanded key lengths for AES to resist quantum algorithms like Shor’s algorithm. Leveraging expertise in real-time encryption and AI-defined key generation, the company applies quantum-resistant encryption techniques to improve products. Integrating AI-powered threat detection and key management tools enables proactive data protection against changing cyberthreats and malicious agencies who are able to stay on networks undetected for months at a time. Moreover, specialized AES standards based encryption solutions with innovative key management that can work in resource constrained IoT environments secure IoT networks and devices from threats. As the cybersecurity landscape evolves, Pantherun focuses on delivering cutting-edge technologies that ensure robust data protection and resilience against future threats.
TAM: How does Pantherun’s real-time encryption technology differ from traditional data protection methods?
Srinivas Shekar: Pantherun’s real-time encryption technology sets itself apart from conventional data protection techniques by improving data security through dynamic and resilient AES standards based encryption techniques while streamlining integration and future-proofing against new cybersecurity threats.
Dynamic Encryption
Unlike static encryption methods used in traditional approaches, Pantherun utilizes dynamic encryption, which creates distinct keys for every data transmission. The implementation of dynamic key generation improves security by reducing the attack window and increasing the difficulty of decrypting intercepted data for adversaries.
Zero Key Exchange
Traditional techniques frequently entail key exchanges, which leaves room for hacking or interception. By removing the requirement for a key exchange, Pantherun’s patented solution lowers possible risks and improves security overall.
Interoperability and Integration Ease
Pantherun’s encryption solutions are designed to work with a variety of existing encryption approaches and don’t require any change of code. As a result, adopting and integrating Pantherun’s encryption into current systems is made easier for businesses and requires less interruption or change.
Resistance to Quantum Computing
Pantherun’s encryption technology is made to withstand quantum attacks, while traditional encryption techniques might be subject to threats from quantum computing in the future. It makes use of patent pending cutting-edge cryptographic methods to guarantee data security even in the age of quantum computing
Extensive Security capabilities
Pantherun includes security capabilities that go beyond encryption, like improved homomorphic encryption techniques and resilience to side-channel attacks. These methods significantly improve data protection in a variety of use cases and sectors.
TAM: What specific industries and applications can benefit the most from Pantherun’s encryption solutions?
Srinivas Shekar: Pantherun offers strong data protection solutions that improve security, compliance, and resilience against changing cyber threats. Its encryption technologies are adaptable and serve a wide range of sectors.
Financial Services
Banks, fintech companies, and payment processors benefit from secure transactions, protecting sensitive financial data against cyber threats.
Healthcare
To ensure the security and integrity of medical data, hospitals, clinics, and other healthcare providers encrypt patient records and abide by strict privacy laws like HIPAA.
Government and Defense
To maintain data sovereignty and national security, agencies and defense contractors safeguard classified information and communications.
Smart devices and the Internet of Things
Pantherun’s encryption protects data transfers between linked devices, guarding against tampering and unwanted access. Manufacturers and developers of IoT devices use it.
Automotive
To ensure safety, security, and adherence to automotive cybersecurity requirements, automakers safeguard data exchanged within connected vehicles.
Smart Cities
To protect the privacy and integrity of data gathered from sensors and surveillance systems, municipalities use encryption.
Telecommunications
To provide dependable and secure telecommunications services, telecom providers protect consumer data and communications infrastructure from cyberattacks and interception.
About Pantherun:
Pantherun is a cyber security innovator with a patent pending approach to data protection, that transforms security by making encryption possible in real-time, while making breach of security 10X harder compared to existing global solutions, at better performance and price.
